Occidental Pete board oks 16% increase in annual dividend

MichaelBaron

NEW YORK (MarketWatch) -- Occidental Petroleum
OXY, +1.55%
said Thursday its board has approved a 16% increase in its annual dividend to $1.44 a share from the previous rate of $1.24 a share. The company, which noted that this is its fourth increase in the payout since 2002, said the quarterly dividend will be 36 cents a share to be paid on Jan. 15 to holders of record on Dec. 9. The stock was off 2.5% to $75 in afternoon action.

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